A loan of $3,000 helped to purchase calves; raise and resell them at a higher price.

Pazil's story

Pazil is 31 years old. He lives in a small village of Bolnisi District with his wife and parents. Pazil requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time because of low income and the family’s poor living conditions.

The only source of income for the family is from the agricultural activities. In particular, they have a plot of agricultural land where haricot is grown. They sell the harvested products locally. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Pazil requested a loan from Credo to start up a family business. He has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-start-up credits with soft conditions to rural poor people, who do not have access to credit products. These rural poor people are regarded as “high risk borrowers” because of their low income.

With his credit, Pazil will purchase calves. He plans to raise them and resell them at a higher price. This will increase the income of their family. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details